In 2023, higher egg prices provided an opportunity for alternative protein companies to show they could compete with traditional egg manufacturers.
At this capacity, Onego Bio is close to reaching competitive price points to traditional ways of making egg proteins, she added.
Onego Bio claims Bioalbumen is “bioidentical” to ovalbumin, which is the major protein in chicken egg white.
In preparation for this, Onego Bio recently secured $40 million in Series A funding to get Bioalbumen to market and increase manufacturing capabilities.
Tomosaku Sohara, managing partner of Nordic Ninja said in a statement: “Onego Bio is taking all the right steps to commercialize in record time … with a clear path to industrialization, go-to-market and profitability.
They founded Poseidona, a Barcelona-based developer of sustainable food technology, which uses that invasive seaweed and algal side-streams — the waste that agricultural producers generate — to make proteins.
In this case, it’s a soy protein alternative.
They’re looking for nutritional factors and an overall good functionality of the protein, Hurtado said.
Poseidona is not the only one using side-streams to make food.
“We’ll ultimately be able to be in cost parity with soy protein.”
Simply put, Tierra is enabling customers to order proteins online that can make anything from antibodies to growth factor for a food product.
Its reagents are combined with the customer’s protein sequences, and put into a robotic platform to create the proteins.
We profiled Tierra Biosciences in 2018 after it rebranded from Synvitrobio and raised $2.6 million in new financing.
Prior to joining the company, Nemzek was chief commercial officer at Synthego Corp. where he led the commercial expansion and growth of its CRISPR genome engineering business.
The round had participation from new and existing investors, including Prosus Ventures, In-Q-Tel (IQT), Hillspire, Freeflow Ventures, Creative Ventures and Social Capital.
One of the challenges for alternative proteins, particularly plant-based, is developing a product that mimics the taste of traditional meat.
The company is making “hybrid meat, dairy and eggs” it says, by combining traditional animal proteins with plant-based ingredients.
“We use our meat proteins, oils, water and spices to get to our formulation, and that allows us to create a clean-label product,” Even told TechCrunch.
Our meat proteins cook in the same manner, the same temperature range, etc.
Signed contractsAt two years old, Ingrediome is still pretty early, and it will be at least two more years before it can manufacturer enough product to sell to traditional meat companies.
After naming Phil Graves the chief financial officer of alternative protein maker Meati Foods at the beginning of February, he is now the company’s new chief executive officer.
The company also said it was reducing its workforce by 13% as Meati works to “build a financially sustainable business,” Graves told TechCrunch exclusively.
Products are now in over 3,600 retail locations nationwide, including Whole Foods Market, Meijer, Cub Foods and Sprouts Farmers Market.
Graves even said the company has a goal of expanding that to 10,000 locations before the end of 2024.
Once fully ramped up, the facility will have the capability of producing more than 45 million pounds of product, Huggins told TechCrunch at the time.
